The Washingtonian, one of the Washington, DC metropolitan region’s most prominent guides to business, lifestyle and entertainment, interviewed Richard Morris, Councilor, Buchanan & Mitchell (CBM)’s tax services director, about the impact of the Tax Cuts and Jobs Act. The Act, which Congress passed in late December and represents the most significant act of tax reform in more than 30 years, introduces a series of impacts for both businesses and individuals.
Mr. Morris specifically addressed the end of deductions for business entertainment and employee commuter cost subsidies, and a reduction in the amount of total mortgage indebtedness on which interest can be deducted.
A copy of the article can be accessed here.
Councilor, Buchanan & Mitchell (CBM) is a professional services firm delivering tax, accounting and business advisory expertise throughout the Mid-Atlantic region from offices in Bethesda, MD and Washington, DC.